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The project concerns the promoter's digital transformation plan, which involves the development of innovative solutions in areas such as advanced cybersecurity technologies, Software as a Service (SaaS) solutions, cloud infrastructure, and Internet of Things (IoT) systems. The activities will primarily take place at the promoter's European technical centres in Spain.
The aim of the project is to support the promoter's competitiveness through the development of innovative technologies and solutions across several business areas, notably including physical security, cybersecurity, and process digitalisation.
The Project contributes to the Innovation, Digital and Human Capital (IDHC) Public Policy Goal, Competitive Industries ? RDI objective, to the EIB's core strategic priority "Digitalisation and Technological Innovation" (TechEU) and, for the security and cybersecurity parts, to the transversal Security and Defence Public Policy Goal. The financing of this Project supports the development and deployment of innovative activities, which generate positive knowledge and technology externalities through the creation of innovative processes, products or services, and through skills development and upgrading.
It addresses the market failure of imperfect competition, as it contributes to expanding the competitive space for new product technologies and helps mitigate the competitive disadvantage of companies with outdated digital technologies, which require transformation. In addition, the Project will promote the diffusion of knowledge through collaboration with the start-up ecosystem, foster internal innovation initiatives and support the creation of innovative start-ups.
EIB's customised and flexible financial terms and conditions are highly appreciated by the Promoter, in support of the accelerated implementation rhythm of its innovation and digitalisation plan. Additionally, EIB's financing improves the Promoter's average debt maturity and provides a signalling effect on the soundness and quality of the Project, facilitating funding to Prosegur from commercial banks going forward.
The project activities are not listed under Annexes I or II of the environmental impact assessment (EIA) Directive 2014/52/EU amending the Environmental Impact Assessment (EIA) Directive 2011/92/EU, therefore they are not subject to an EIA procedure. In addition, the Project activities are expected to be carried out in existing facilities that are already used for the same purposes and that are not expected to change their scope due to the project.
The promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions. However, if at the project appraisal, the EIB were to conclude that the Promoter is subject to the EU public procurement legislation then the Bank would duly inform the Commission Services and would require the promoter to apply those rules.